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    MSTC IPO Extended Till March 20; IPO Price Band Revised Lower

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    As per a regulatory filing, the initial public offer of state-run e-commerce company MSTC has been extended till March 20 and also the price band has been reduced.

    MSTC IPO Extended Till March 20; IPO Price Band Revised Lower
     

    Initially, the IPO was to wind up on Friday, also the revised price band is Rs. 120- Rs. 128 from the earlier Rs. 121- Rs. 128 per share.

    On the third day of bidding, MSTC IPO was subscribed 1.12 times.

    The Rs 226-crore IPO received bids for 1,98,69,390 shares against the total issue size of 1,76,70,400 shares, the data available with the NSE till 1900 hours showed.

    Equirus Capital Private Ltd is the lead manager to the initial public offer.

    MSTC, a Kolkata-based firm, was incorporated in 1964 as a trading company to deal in the export of scrap. There are three main business segments of the company namely e-commerce, trading and recycling.

    MSTC scrip will be listed on the BSE and NSE.

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